Mexico is willing to work with OPEC if the group tries to stabilize crude markets and level out oil prices, Iran’s Oil Minister Bijan Namdar Zanganeh said after talks with Mexico’s labor secretary Alfonso Navarrete Prida, Bloomberg reported.
Zanganeh, however, didn’t elaborate on the possible steps that OPEC might take.
In a similar vein Venezuelan President Nicolas Maduro proposed that OPEC’s 12 members hold an extraordinary meeting to halt falling oil prices and invite non-OPEC producers, such as Russia, to participate in this effort.
According to Press TV Zanganeh endorsed this proposal, saying that “Iran supports and welcomes any steps to help the oil market recover and escape the current conditions”.
Previously the oil minister had said that Iran is not opposed to an emergency OPEC meeting
“If this meeting is held, it will be effective and we will not oppose it,” he told reporters last month.
“An emergency meeting has to be held with the consensus of OPEC members and a consensus means all members are decided to reach a conclusion,” he said.
Nonetheless, he had hinted at the time that there was not enough political willpower among OPEC members for this to happen, with clear allusions to Saudi Arabia’s role in depressing oil prices to begin with.